🚗Problem

In DeFi, there’s a clear opportunity: high, sustainable yield on ETH, BTC, and volatile assets. These are the foundation of crypto, held by nearly everyone, yet their returns remain low, inefficient, and unsustainable. Covered calls, a proven strategy in traditional finance, should have filled this gap. In TradFi, covered calls generate consistent returns on stocks with far lower volatility than BTC or ETH, making crypto the perfect environment for them: higher volatility means higher premiums and bigger yield opportunities.

Despite this potential, covered calls haven’t taken off in DeFi. Past attempts, like Ribbon and other Decentralized Options Vaults (DOVs), struggled to deliver. We learned from these models that rigid, pooled setups and predictable execution don’t work for DeFi. They limit flexibility, create inefficiencies, and fail to scale. More broadly, options in DeFi have been inaccessible to most users.

Current platforms target sophisticated traders, catering to a Deribit-style audience focused on spreads and liquidity, not yield seekers looking for simple, high-yield strategies. Their complex interfaces and jargon have blocked mass adoption, leaving the yield potential of covered calls largely untapped.

Covered calls are one of the most widely adopted yield strategies in TradFi, used by institutions, funds, and structured products at massive scale. But no DeFi platform has successfully brought this strategy on-chain in a scalable, accessible way, leaving a gaping hole in the ecosystem.

Rysk saw this opportunity, learned from past challenges, and built a new approach to make covered calls work for DeFi, unlocking sustainable yield for everyone.